B2B companies and customer journey analytics: Show me the money!

In B2B, half or more of all marketing spend is misaligned. Despite that, your sales could be up by 10% and churn down by 30% in year 1 using customer journey analytics.

The stakes are high in B2B 

Although customer journey analytics has grown in the B2C market, B2B companies are being rudely awakened by their customers. After all: B2B customers are also B2C customers and customer experiences (CX) from Amazon and Coolblue are increasingly expected to be the norm in B2B as well.

However, there are significant differences in customer journeys in B2B versus B2C. The main one being that the stakes are higher in B2B in terms of bigger deals and deeper relationships. Even more reason to focus on customer journeys and CX.

According to industry analysts, the emerging battle in B2B will be won by those smartly feeding digital and non-digital journeys to improve customer (buyer) experience.

In charge of CX with predictive analytics

Although B2C companies have more customers, B2B customers are more complex with longer lead-times. In addition, digitization has meant that supply chains in B2B have become increasingly complex too, with more and more subcontractors impacting your company’s customer experience.

The challenge to overcome here is: how do you safeguard the customer experience in every step of the value chain? Customer journey analytics allows you to manage this process, and provides both company and customer value at every turn. And better still, rather than highlighting what has occurred in the past, predictive analytics will allow you to be fully proactive and in charge of your CX. There is a world to be won using artificial intelligence.

To start managing your CX, your organization needs to become aware of the potential of customer journey mining and the need to start collecting and harnessing data now.

Understanding what drives buyer (customer) decisions allows marketers to make smarter, more informed decisions about where and when to allocate resources.

The CX Insights Framework

More and more organizations are investing in customer experience. Rightly so, because research and practice show that a good customer experience increases the chance that customers will recommend your company, buy more, forgive mistakes, and want to try other products. But how do you find out if your customer experience is good? And how do you maintain a structural overview of improvement potential? Too many organizations still rely on their gut feeling, which is a shame, because customer experience analytics can offer us many opportunities.

Discover and prioritize improvement potential

Many organizations have already taken steps towards improving their customer experience. Yet something is missing. We all demand demonstrable results. To improve the customer journey in a data-driven way, you need to understand which improvements affect customer happiness and business objectives. Underlined had developed the CX Insights Framework to help you identify opportunities to improve CX and deliver business value.

The framework is a data-driven operating model, linking customer satisfaction metrics to broader business objectives and business data by using customer journeys. Creating the opportunity to discover and prioritize improvement potential. And helping you justify investments in customer experience. In this way you will always have a well-founded business case.

Show me the money

The CX Insights Framework is a systematic approach to collect, analyze and, process CX data in an effective and complete CX measurement system. Completing the Insights Framework is the first step to mapping all CX data that is present within your organization. In combination with a data scan, a roadmap is created that shows which information is still missing to achieve a holistic image of your customer experience. This leads to an integrated CX approach, where it becomes clear what you should do to get CX metrics moving and improve business results.

“We bring together all proprietary data about business value and all customer feedback by using a data-science method linking it to customer journeys. Researching these drivers takes time, but pays off.”

Want to learn more about how to monitor your performance across the entire customer journey, understand conversations and measure how CX initiatives contribute to the bottom line? Unlock your customer understanding and take actions today based on insights.

Visit our website to learn more about optimizing every customer’s journey and increase your customer happiness.

Achieve measurable improvements of your customer experience (underlined.eu)